Israeli drugmaker Teva Pharmaceutical U.S. shares shot up in after-hours trade on Wednesday after Berkshire Hathaway Inc said it had taken a new stake in the company, signalling confidence by famed investor Warren Buffett.

Cisco Systems Inc has become the first big tech company to pass the rewards of U.S. tax reform directly to its investors, with the announcement of a $25 billion stock buyback plan that contributed to a 6 per cent bounce in its share price late on Wednesday.

Renault SA have confirmed that chief performance officer Stefan Mueller is to leave the company, clearing the way for Thierry Bollore to be anointed as number two on Thursday. (Compiled by Bengaluru newsroom; Editing by Sandra Maler)